2005 House Bill 5108 ↩

House Roll Call 360: Passed

To reduce the Single Business Tax rate from 1.9 percent to 1.7 percent by 2008; phase out the SBT that businesses pay on their employee health insurance costs; reduce the alternative SBT tax rate charged to small businesses from 2 percent to 1.4 percent by 2010; and make more restrictive the thresholds that allow a firm to use the alternative gross receipts tax calculation method, or to claim an "excess compensation" SBT credit. The bill is part of a tax revision package that trades off tax cuts with certain increased tax levies and other measures to create a net business tax cut of around $300 million per year by 2010.